StubHub IPO Targets $850 Million Amid Strong U.S. Market and Investor Interest

StubHub, the online ticketing reseller, is once again testing the waters of the public markets with its forthcoming initial public offering (IPO). The company aims to list on the New York Stock Exchange under the ticker symbol "STUB." This move comes after previous attempts at going public were postponed due to market instability, specifically following the announcement of tariffs by then-President Donald Trump. StubHub plans to offer over 34 million shares at a price range of $22 to $25 per share, aiming to raise as much as $850 million if priced at the higher end.

In its regulatory filing with the Securities and Exchange Commission, StubHub has disclosed that it will have around 373 million shares outstanding post-IPO, assuming the full exercise of the overallotment option. This positions the company's potential market capitalization at approximately $9.3 billion if the shares are priced at the upper limit.

The current IPO environment has shown robust investor interest, especially in tech-related and cryptocurrency firms. Similar to StubHub’s revived IPO plans, other companies are also making pushes to the public markets, such as Klarna and Gemini, the cryptocurrency platform established by Cameron and Tyler Winklevoss. This follows a period of volatility where companies previously delayed their public debut due to unfavorable market conditions.

Moreover, U.S. IPOs have demonstrated considerable strength, with over $40 billion raised this year. This marks one of the strongest showings since the record-setting year of 2021, suggesting that investor appetite is present despite broader economic uncertainty.

Financially, StubHub reported a $76 million net loss for the first six months of 2025 on revenues of $872.9 million. This widened from a $24 million loss during the same period in the previous year, when the company reported revenues of $803.5 million. These numbers highlight both the increased top-line performance and the challenges of profitability in a competitive marketplace.

Founded in 2000 by CEO Erik Baker and Jeff Fluhr, StubHub was initially acquired by eBay in 2007 before returning to the hands of Erik Baker in 2019. The company acknowledges "intense competition" within the sector as a significant risk factor. A key competitor, Live Nation Entertainment, the operator of Ticketmaster, holds a substantial market position with a valuation nearing $38 billion.

As the day of StubHub’s public market entry approaches, the company’s performance will serve as an indicator of the robustness of market interest in non-tech, consumer-focused enterprises and the broader IPO landscape.